Joey Pizzolato

The growth of digital payments, coupled with the U.S.'s new open banking framework, may finally move the needle for an alternative form of credit decisioning.

The investment and custody bank beat Wall Street estimates on net income but missed on revenue expectations. An increase in fee revenue offset stagnant net interest income. Management expects more of the same for the rest of the year.

The Sweden-based payment firm, which recently delayed its IPO due to the trade war, will use Fiserv's Clover point of sale system as it looks to build a market in the U.S. Plus: Payoneer makes a deal in China and other news in this week's global payments roundup.

New York AG Letitia James is suing the earned wage access companies for charging illegal, high-interest loans that would have wide-ranging implications for EWA providers. DailyPay last week filed a countersuit against James's office.

Affirm is reporting consumers' buy now/pay later loans to Experian, following a February study with FICO. It's one of the first steps in credit reporting for BNPL, potentially complicating banks' assessments for other types of lending.

The administration's unpredictable policy has already caused shifts in foreign exchange rates and supply chain payments. Uncertainty about future levies will cause added pressure despite the 90-day pause.

The Bank of Lithuania contends the U.S. fintech broke anti-money-laundering rules; while British contactless payments hit a record. That and more in the American Banker global payments roundup.

Banks in the U.S. and India will offer cross-border transactions using the technology that underpins cryptocurrency. Our global payments roundup also includes updates from PayPal, Lloyds and a very remote ATM deployment.

Visa and American Express are both reportedly trying to lure Apple's lucrative credit businesses away from Mastercard. But the battle over processing rights is just as much about accessing the technology company's digital wallet as it is about boosting transactions.

The buy now/pay later company made a deal with Stride Bank to add banking-as-a-service heft as Affirm Card usage soars and Evolve grapples with defections.